Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 3,040 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,040 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $30.75, for a total value of $93,480.00. Following the sale, the chief accounting officer now directly owns 174,375 shares in the company, valued at $5,362,031.25. The trade was a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kong Phan also recently made the following trade(s):

• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The stock was sold at an average price of $36.22, for a total value of $229,852.12.
• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The stock was sold at an average price of $28.74, for a total value of $113,436.78.
• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The stock was sold at an average price of $31.30, for a total value of $389,998.00.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $30.44 on Wednesday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a market cap of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92. The business’s 50 day moving average price is $29.84 and its two-hundred day moving average price is $26.17. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

CFLT has been the subject of a number of research reports. Mizuho increased their target price on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. TD Cowen increased their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays increased their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Bank of America increased their target price on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. Finally, Scotiabank raised their price objective on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Investors Weigh In On Confluent

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in shares of Confluent by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock worth $301,000 after acquiring an additional 328 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Confluent by 4.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after acquiring an additional 458 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after acquiring an additional 503 shares during the period. Truist Financial Corp boosted its holdings in shares of Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after acquiring an additional 514 shares during the period. Finally, Jasper Ridge Partners L.P. boosted its stake in shares of Confluent by 4.8% in the fourth quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock valued at $403,000 after buying an additional 664 shares during the period. Institutional investors own 78.09% of the company’s stock.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.